With MCT Credit Union, what you see is what you get. We believe that part of having a better banking experience is feeling confident in your financial institution, so we put all of our cards on the table. Here are some disclosures about our products and services.
Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What This Means For You
When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
If you have a problem with the services provided by this Credit Union, please contact us at:
MCT Credit Union
PO Box 279
2736 Nall Street
Port Neches, TX 77651
The Credit Union is incorporated under the laws of the State of Texas and under state law is subject to regulatory oversight by the Texas Credit Union Department. If any dispute is not resolved to your satisfaction, you may also file a complaint against the credit union by contacting the Texas Credit Union Department at:
914 East Anderson Lane
Austin, TX 78752-1699
What is a “cookie” and how does it work?
We occasionally use software “cookies” (tiny data files sent to and stored by the client computer’s web-browser software) to let you use our services more efficiently, and to let us keep track of statistical traffic information that helps us improve our Web site. One extremely valuable service provided by cookies is that they can save many preferences which you have established for navigation, searching, and shopping in your favorite Web sites. After your computer has requested and received a cookie from an Internet server, the cookie simply allows you to visit Web site pages repeatedly without having to reintroduce yourself each time you return. No other user’s computer on the Worldwide Web will have that same cookie, and only the Web site which issued that cookie can later retrieve it. A Web site can transmit one or (rarely) more cookies to the user’s browser software, and each may have a very different purpose. Cookies from our server contain only information which a user volunteers, or which guarantees the secure transmission of their data across the Internet, or which can automatically disconnect a user’s “log-in” session after a period of inactivity (in case you go to lunch but forget to “log off”).
What is SSL and How Does it Protect Me?
SSL protocol provides secure communications on the Internet. Essentially, SSL does three things:
- SSL creates a secure communication channel by encrypting communication between the user and the server.
- SSL authenticates that the server to which you are connected is indeed correct. You can be assured that you are actually communicating with us, and not a third party trying to intercept the transaction.
- SSL conducts a cryptographic word count to ensure data integrity between the server and the user. The word count (or checksum) provides a count of the number of bytes in a document and ensures the exact number of bytes is transmitted and received. With SSL, even this check sum is encrypted so it cannot be modified. If a message is not received in its entirety, it is rejected and another copy of the message is sent automatically.
After you have entered your information, the encrypted data is transported between our systems and our alliance systems. Ensuring the security of your financial transactions is never a finite process for us. We use professional security experts to manage and monitor 24 hours a day, 7 days a week to help ensure that your information is secure.
This disclosure describes your ability to withdraw funds at MCT Credit Union. It only applies to the availability of funds in transaction accounts. The credit union reserves the right to delay the availability of funds deposited to accounts that are not transaction accounts for periods longer than those disclosed in this policy. Please ask us if you have a question about which accounts are affected by this policy.
Our policy is to make funds from your cash and check deposits available to you on the next business day after we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written. For determining the availability of your deposits, everyday is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before 4:00 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
Reservation of Right to Hold
In some cases, we will not make all of the funds that you deposit by check available to you on the next business day after we receive your deposit. Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit. However, the first $100.00 of your deposit will be available on the first business day after the day of your deposit. If we are not going to make all of the funds from your deposit available on the next business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the next business day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available.
Holds on Other Funds
If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you have deposited.
Longer Delays May Apply
We may delay your availability to withdraw funds deposited by check into your account an additional number of days for these reasons:
- We believe a check you deposit will not be paid.
- You deposit checks totaling more than $5,000 on any one day.
- You deposit a check that has been returned unpaid.
- You have overdrawn your account repeatedly in the last six (6) months.
- There is an emergency, such as failure of communications or computer equipment.
We will notify you if we delay your ability to withdraw funds for any of those reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh business day.
Special Rules for New Accounts
If you are a new member, the following special rules will apply during the first thirty (30) days your account is open.
Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and federal, state, and local government checks will be available on the next business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $5,000 will be available on the fifth business day after the day of your deposit. If you deposit one of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available on the ninth business day after the day of your deposit.
Deposits at Non-proprietary ATMs.
Funds from any deposits (cash or checks) made at automated teller machines (ATMs) we do not own or operate will not be available until the second business day after the date of your deposit. This rule does not apply at ATMs that we own or operate. All ATMs that we own or operate are identified as our machines.
Checks drawn on financial institutions located outside the U.S. (foreign checks) cannot be processed the same as checks drawn on U.S. financial institutions. Foreign checks are exempt from the policies outlined in this disclosure. Generally, the availability of funds for deposits of foreign checks will be delayed for the time it takes us to collect the funds from the financial institutions upon which it is drawn.
According to Section 91.315 of the Texas Administrative Code, MCT Credit Union is required to notify our members that the following documents are available for review or to receive a copy of the most recent version:
- Balance Sheet and Income Statement
- Annual Audit
- Articles of Incorporation, Bylaws, Rules, Guidelines, Board Policies and copies thereof, and
- Internal Revenue Service Form 990.
Please make requests by writing to:
MCT Credit Union
ATTN: Office of the President/CEO
P.O. Box 279
Port Neches, TX 77651
or by phone at (409) 727-1446
American Share Insurance – By members’ choice, this institution is not federally insured. Members’ accounts are not insured or guaranteed by any government or government-sponsored agency. Your savings insured to $250,000 per account.